Banco Santander will finance its expansion with 15 million until 2025

MADRID, 21 Ago. (EUROPA PRESS) -

Grosso Napoletano expects to close 2023 with a turnover of 40 million euros, which represents an increase of 70%, as well as a gross operating result (Ebitda) of about five million euros, according to the company in a statement.

Specifically, the restaurant chain has an "ambitious" expansion plan and expects to exceed 40 restaurants this year, reaching five new cities, while it will begin its international expansion plan with Portugal in 2024, aiming to reach 100 stores a end of 2026.

Since January, the pizzeria chain has opened seven stores, three of them in new cities (Vitoria, Vigo and A Coruña). Thus, it has 34 stores (including a 'food truck') spread over 19 Spanish cities. In addition, its human team has grown from five to more than 500 people and this 2023 it will end with almost 650 employees.

Banco Santander, through the Smart Fund, will support this expansion with 15 million euros until 2025. The bank, which has accompanied the firm since 2021, has expanded its financial support, ensuring the company's expansion plan and covering its needs financial services until the end of 2025, which plans to end with 80 stores.

"This new agreement highlights the consistency of the business model, the efficiency in management and the solid corporate governance of Grosso Napoletano", said the director of the Smart Fund, Samuel Serrano.

For his part, the financial director of Grosso Napoletano, Javier Contreras, highlighted the importance of this agreement. "At a time of certain macroeconomic uncertainty like the current one, gaining the trust and support of a large bank like Santander reaffirms us as a company, guaranteeing the achievement of our ambitious expansion plan, validating once again the solidity of our business model , and giving us strength to continue pushing every day to do things better", he pointed out.

For his part, the co-founder and CBO of Grosso Napoletano, Hugo Rodríguez de Prada, welcomed the renewal of this alliance with Santander. "This strategic agreement with Banco Santander confirms the consolidation of our pizza as an alternative to the entire industrial offer. After almost seven years of hard work, we have managed to grow at a good pace and we are sure that we will successfully reach many more cities in Spain and other European countries," he said.